Dairy Farm Walk - Government Land Sale (GLS) Sites Analysis

Government Land Sale (GLS) Sites Analysis – Dairy Farm Walk 

The tender for the Government Land Sale (GLS) parcel at Dairy Farm Walk closed today on 22 January 2026. It attracted strong developer interest, with 5 bidders in total. The highest bid was put in by ABR Holdings Limited, LWH Holdings Pte. Ltd., Macly Capital Pte Ltd and RP Ventures Pte Ltd and RP Ventures Pte Ltd at $427million ($962 psf ppr), edging out the next highest bidder by 0.4%. 

 

Table 1: Bidders for the tender of Dairy Farm Walk GLS site

1.0         Site Details  

Table 2: Details of Dairy Farm Walk GLS Site

Map of Dairy Farm Walk 

The Dairy Farm Walk site is trapezoidal in shape, which allows for a more efficient site layout. This allows a more flexible building configurations and landscaping, potentially enabling developers to optimise unit orientation and better maximise the views of the surrounding greenery. 
 

2.0         Locational Attributes

The Dairy Farm Walk GLS site is well connected via major roads and expressways, including the Bukit Timah Expressway (BKE), Pan Island Expressway (PIE), and Upper Bukit Timah Road, allowing for convenient travel to various parts of the island. 

The site is close proximity to greenery, making it especially attractive to buyers who value a nature-centric lifestyle. The development is located near Dairy Farm Nature Park and Bukit Timah Nature Reserve to the south, as well as Zhenghua Nature Park, Chestnut Interim Green, and the Central Catchment Nature Reserve to the east. 

Unlike nearby GLS sites with a higher gross plot ratio (GPR) of 2.1, the Dairy Farm Walk GLS site is zoned at a lower GPR of 1.4, with building heights limited to four to six storeys. Coupled with the large site area, it offers buyers a rare opportunity to live in a low-density, and more exclusive living environment.

The site is also well position to cater for families, with several established primary schools located within a 1km radius namely Bukit Panjang Primary School and CHIJ Our Lady Queen of Peace. This further enhances the development’s appeal to owner-occupiers and long-term residents.

The nearest MRT station is Hillview MRT, located 1km, or an 18-minute’s walk. This might detract certain buyers who prioritise accessibility to an MRT station.  The relative scarcity of neighbourhood amenities could also temper perceptions of liveability. This is given that the nearest retail option in the area is Dairy Farm Mall, which is a smaller-scale mall anchored primarily by a FairPrice Finest supermarket, as well as tuition centres and F&B outlets.

As compared to larger and more established neighbourhoods which may contain public amenities such as market and food centres, healthcare (such as polyclinics and hospitals), and other retail and leisure options, the Dairy Farm neighbourhood can be considered as having fewer amenities and therefore less accessible or convenient.

 

3.0         Price and Market Trends

From 2021 to 2025, the median price psf of non-landed homes in Bukit Panjang, District 23 and OCR have increased by 15.2%, 14.5% and 40.1% respectively. Price growth across Bukit Panjang and District 23 has been broadly comparable, while the OCR recorded a significantly stronger increase, leading overall price appreciation during the period.

Table 3: Prices of All Private Homes in the Vicinity

However, the Outside Central Region (OCR) covers a very broad area, encompassing a wide range of established and popular residential locations such as Tampines, Punggol, Sengkang, each with different infrastructure and locality maturity.

 

4.0         Potential Demand/Buyer Profile

This development could appeal to HDB upgraders and existing condominium residents in the nearby estates of Bukit Panjang and Choa Chu Kang. Buyers can enjoy the familiarity and conveniences of their current neighbourhood, while benefiting from fresh amenities and newer facilities offered by the new development. This represents a natural asset progression for HDB upgraders moving into private property, offering more privacy, security and facilities compared to HDB flats, while supporting longer-term wealth and lifestyle aspirations.

Table 4: HDB upgrader supply in District 23

The development is located within an established residential enclave surrounded by landed homes, which may appeal to landed homeowners seeking to right-size or purchase a nearby condominium for their children.

The upcoming Narra Residences, located directly adjacent to the subject site, is expected to attract a balanced mix of buyers, including HDB upgraders from nearby estates and right-sizers from surrounding landed neighbourhoods. Similarly, the Dairy Farm Walk GLS site is likely to enjoy healthy demand from a diverse pool of potential homeowners, supported by its established residential catchment.

Table 5: Existing Developments within Proximity  

There is no upcoming West region, OCR GLS sites currently announced in the 1H2026 GLS confirmed list. Coupled with a lack of existing new stock (aside from Narra Residences) in the area, could compel bidders to take a chance on the site.

Conclusion

The Dairy Farm Walk GLS site attracted a total of five bidders, exceeding expectations given that the previous GLS site in the area drew only three bids. This stronger-than-anticipated response underscores sustained developer confidence in the city-fringe segment, particularly in areas with limited new private housing supply and conserved natural surroundings.

Following the strong take-up rates at several 2025 launches, developer sentiment has remained positive. This is likely to drive more active land replenishment as developers position themselves for the next wave of demand. 

Currently, there are five GLS sites (excluding Executive Condominiums) remaining open for tender, with another seven sites available on the 1H2026 GLS confirmed list set to be opened for tender. Developers who are unsuccessful in their current bids may pivot to other opportunities, such as the ongoing tender of another OCR site at Lentor Central.